What is an MVP?

MVP means Minimum Viable Product and it’s a core component of Lean Startup methodology [1]. An MVP is not a minimal product [2]. The technique involves the development of a product or website with the sufficient features to satisfy early adopters.This subset of possible customers are thought to be more forgiving, more likely to give feedback, and able to grasp a product vision from an early prototype or marketing information [3].

The final, complete set of features is only designed and developed after considering feedback from the product's initial users [4].

An MVP has three key characteristics:

It has enough value that people are willing to use it or buy it initially